• Email Us: [email protected]
  • Contact Us: +1 718 874 1545
  • Skip to main content
  • Skip to primary sidebar

Medical Market Report

  • Home
  • All Reports
  • About Us
  • Contact Us

Austria adopts carbon pricing in tax overhaul

October 3, 2021 by David Barret Leave a Comment

October 3, 2021

VIENNA (Reuters) -Austria will implement a carbon levy of 30 euros per tonne next year as part of an overhaul of the tax system that officials said on Sunday would reward behaviour that helps protect the environment while cutting corporate and income taxes.

Chancellor Sebastian Kurz, whose conservatives govern in coalition with the Greens, called the package which will provide a cumulative 18 billion euros ($21 billion) of tax cuts through 2025 the biggest tax revamp in modern Austrian history.

The carbon levy will start in mid-2022 and rise to 55 euros per tonne in 2025.

The government will cushion the blow of higher travel and heating costs via regional “climate bonuses” of 100 euros per year for urban dwellers and up to 200 euros for people who live in the countryside, where public transport is less available.

“Less pollution in the air, more money in the wallet,” Greens leader Werner Kogler told a news conference.

Corporate tax rates will gradually fall to 23% in 2024 from 25% now, while income tax rates for people in two income brackets will also drop.

Family “bonus” allowances will rise to 2,000 euros per child from mid-2022 from 1,500 euros now, while health insurance contributions for people on lower incomes will decline.

Finance Minister Gernot Bluemel said economic and jobs growth fostered by the package would help pay for the tax cuts and that Austria’s debt to GDP ratio would fall step by step over the years.

($1 = 0.8625 euros)

(Reporting by Michael Shields; Editing by Emelia Sithole-Matarise and Catherine Evans)

Source Link Austria adopts carbon pricing in tax overhaul

David Barret
David Barret

Related posts:

  1. Soccer-Pepi impresses on debut as U.S. beat Honduras 4-1 in World Cup qualifier
  2. Exclusive-Dubai courier Aramex in talks to buy Turkey’s MNG Kargo -sources
  3. Flite Material Sciences uses lasers, not chemical coatings, to keep ice and rust off surfaces
  4. Fed to release paper on central bank digital currency soon, Powell says

Filed Under: News

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

  • Experimental Nanoparticle “Super-Vaccines” Stop Breast, Pancreatic, And Skin Cancers In Their Tracks
  • New Nightmare Fuel Unlocked: Watch The First Known Capture Of A Shrew By A False Widow Spider
  • Peculiar Glow In The Milky Way Might Be Dark Matter Signature
  • “I Was Scared To Death”: Missouri’s Great Cobra Scare Of 1953 Was Eventually Solved After 35 Years
  • Two Spacecraft To Fly Through Comet 3I/ATLAS’s Ion Tail – Will They Be Able To Catch Something?
  • Pioneering Heavy Water Detection Suggests Earth’s Water Might Be Older Than The Sun
  • PhD Students’ Groundbreaking New Technique Rescues JWST’s Highest Resolution Data
  • Popcorn-Like Parasites And Weird Worms Among 14 New Species Discovered In The World’s Oceans
  • Poem From 1181 CE Cairo Appears To Reference A Rare Galactic Supernova
  • With “Iridescent Live Colors”, Newly Discovered Beautiful Dwarfgoby Lives Up To Its Name (Mostly)
  • “Anti-Tail” And Odd 594-Kilometer Feature Found On Interstellar Object 3I/ATLAS By Keck Observatory
  • Why Do We Call It A “Hamburger” When It Doesn’t Contain Ham?
  • What Aristotle Got Wrong About The Octopus
  • The World’s Largest Island Is Shrinking And Shifting
  • Record-Breaking Marshmallow Planet – It’s A Cold, Peculiar World On A Very Slanted Orbit
  • Distinctive Rocks Might Be Remnants Of Earth Before The Collision That Made The Moon
  • Bright Northern Lights Across America Expected This Week As 3 Coronal Mass Ejections Fly Towards Earth
  • Brain Implant Enables Paralyzed Man To Feel And Use Objects Using Someone Else’s Hands
  • “This Is A Really Big Deal”: Brain Training Significantly Improves Key Neurochemical Levels In World First
  • “Wholly Unexpected”: First-Ever Fossil Paranthropus Hand Raises Questions About Earliest Tool Makers’ Identity
  • Business
  • Health
  • News
  • Science
  • Technology
  • +1 718 874 1545
  • +91 78878 22626
  • [email protected]
Office Address
Prudour Pvt. Ltd. 420 Lexington Avenue Suite 300 New York City, NY 10170.

Powered by Prudour Network

Copyrights © 2025 · Medical Market Report. All Rights Reserved.

Go to mobile version